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You are involved in a New Product Development (NPD) Project. Your task is to help the team to select the design for a critical component. After surveying key stakeholders in your company, the following criteria are deemed important in this selection: Material Cost (MatCost), Manufacturing Cost (MfgCost), Reparability, Durability, Reliability, and Time to Produce. Based on initial pair-wise comparisons, you developed the following criteria comparison matrix. MatCost MfgCost Reparability Durability Reliability Time to Produce Mat Cost 1.000 3.000 5.000 9.000 7.000 0.333 MfgCost Reparability Durability 0.333 0.200 0.111 1.000 0.333 0.143 3.000 1.000 0.200 7.000 5.000 1.000 3.000 5.000 0.333 0.333 0.333 0.143 Reliability 0.143 0.333 0.200 3.000 1.000 0.111 Time to Produce 3.000 3.000 3.000 7.000 9.000 1.000 Challenge 1.1 (1 Point) Based on the matrix above, which criterion is more important: Material Cost or Manufacture Cost? YOU MUST SHOW YOUR WORK TO RECEIVE CREDIT Challenge 1.2 Normalize the Criteria Comparison Matrix (3 Points) First, sum the elements in each column (I have provided you with an example for MatCost Column). PLEASE ROUND TO THREE DECIMAL PLACES. MatCost MfgCast Reparability Durability Reliability Time to Produce MatCost 1.000 3.000 5.000 9.000 7.000 0.333 MfgCost Reparability Durability 0.333 0.200 0.111 1.000 0.333 0.143 3.000 1.000 0.200 7.000 5.000 1.000 3.000 5.000 0.333 0.333 0.333 0.143 Reliability 0.143 0.333 0.200 3.000 1.000 0.111 Time to Produce 3.000 3.000 3.000 7.000 9.000 1.000 Sum Columns 25.333 Second, normalize the Matrix (I have filled in some cells as examples). Hint: Normalizing the matrix means to divide each element in every column by the sum of that column Durability Reliability Time to Produce MatCost MfgCost Reparability Durability Reliability Time to Produce MatCost MfgCost Reparability 1/25.333 039 0.023 0.118 0.197 0.355 0.276 0.013 Sum Columns 1.000 TEAM VERSION YOU MUST SHOW YOUR WORK TO RECEIVE CREDIT Challenge 1.3 Compute the Criteria Weights Matrix (6 points) Hint: Average each row in the normalized matrix. This average is called the Criteria Weights. Criteria Weights 0.047 MatCost MfgCost Reparability Durability Reliability Time to Produce Matcast Mfgcast Reparability Durability Reliability Time to Produce 0.039 0.023 0.118 0.197 0.355 0.276 0.013 Sum Columns 1.000 This is what we are after: The weights we should give each of these criteria